Murphy Oil (NYSE:MUR) Price Target Cut to $39.00 by Analysts at Wells Fargo & Company

Murphy Oil (NYSE:MUR) had its price target lowered by research analysts at Wells Fargo & Company from $41.00 to $39.00 in a report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 15.62% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Piper Sandler cut their target price on Murphy Oil from $54.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Wolfe Research assumed coverage on shares of Murphy Oil in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. StockNews.com lowered shares of Murphy Oil from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. cut their price target on shares of Murphy Oil from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, UBS Group decreased their price objective on shares of Murphy Oil from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $44.82.

Murphy Oil Price Performance

MUR stock opened at $33.73 on Friday. Murphy Oil has a 52 week low of $32.53 and a 52 week high of $49.14. The firm has a market capitalization of $5.15 billion, a P/E ratio of 9.40 and a beta of 2.21. The company has a fifty day simple moving average of $36.89 and a two-hundred day simple moving average of $41.03. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.23.

Murphy Oil (NYSE:MUR) last announced its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Murphy Oil had a net margin of 17.32% and a return on equity of 11.68%. The firm had revenue of $802.80 million during the quarter, compared to the consensus estimate of $813.97 million. During the same quarter last year, the firm earned $0.79 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts anticipate that Murphy Oil will post 3.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Murphy Oil

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. raised its holdings in shares of Murphy Oil by 1,015.7% in the second quarter. Mather Group LLC. now owns 569 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 518 shares in the last quarter. Rise Advisors LLC purchased a new position in Murphy Oil during the 1st quarter valued at about $30,000. Lindbrook Capital LLC raised its holdings in shares of Murphy Oil by 47.7% in the 1st quarter. Lindbrook Capital LLC now owns 721 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 233 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of Murphy Oil by 1,434.5% in the 2nd quarter. Headlands Technologies LLC now owns 1,289 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 1,205 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Murphy Oil by 27.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,105 shares of the oil and gas producer’s stock valued at $96,000 after purchasing an additional 447 shares in the last quarter. Institutional investors own 78.31% of the company’s stock.

Murphy Oil Company Profile

Murphy Oil Corporation, together with its subsidiaries, operates as an oil and gas exploration and production company in the United States, Canada, and internationally. It explores for and produces crude oil, natural gas, and natural gas liquids. The company was formerly known as Murphy Corporation and changed its name to Murphy Oil Corporation in 1964.